To celebrate the launch of Scallop’s native token SCA, we are kicking things off with a MASSIVE staking campaign!
Over a period of 15 days, users will be able to stake their SCA for veSCA, and receive SCA as rewards daily!
Campaign Details
Simply stake SCA for veSCA and receive more SCA as rewards!
Duration: 8 March, 11AM to 22 March 11AM (UTC)
Total Rewards Pool: 2,250,000 SCA (over 15 days)
Rewards Breakdown
The SCA rewards distributed daily will increase over time, therefore the longer you stake SCA, the more SCA you get in return!
The amount of SCA reward a user will receive is calculated based on the following formula:
Reward Distribution Formula
TveSCA: the sum of veSCA from all participants in snapshot
UveSCA: the veSCA for specific participant in snapshot
Treward: reward pool amount for that day
Ureward: the reward for the participant
Snapshot of veSCA daily at 12am UTC. First Snapshot taken at 09/03/2024 12am UTC
How to Maximize Rewards
Basically, the more veSCA you have, the more rewards you get!
There’re 2 ways to get more veSCA:
- Lock more SCA. If you double your locked SCA, you get 2x the veSCA.
- Lock SCA for longer period. User A lock 1000 SCA for 40 weeks, User B lock 1000 SCA for 2 weeks. User A will have 20x veSCA compared to User B.
Note: veSCA will decay linearly over time until it goes to zero. Users can extend the locking period at any time to increase their veSCA.
SCA Staking Rules
To qualify for the SCA rewards, users will have to fulfil the following criteria:
- Stake at least 10 SCA
- Minimum SCA staking period is 2 day
- Maximum SCA staking period is 4 years (208 weeks or 1460 days)
What is veSCA
Getting veSCA
Simply lock your SCA and receive veSCA.
The amount of veSCA that you receive is proportional to the SCA and duration locked. Your veSCA amount will decay over time. It will reach zero once the lock duration is over. Your locked SCA will then be fully released.
SCA lock-in Period to veSCA
You can increase your veSCA value by choosing to extend your staking duration and/or increase your staked amount.
For more information on veSCA, check out our detailed veSCA guide: https://medium.com/scallopio/what-is-vesca-f7892af60efa
